EastGroup Properties

EastGroup Properties Announces Recent Business Activity

March 1st, 2023

JACKSON, MISSISSIPPI, March 1, 2023 — EastGroup Properties, Inc. (NYSE: EGP) (the “Company” or “EastGroup”) announced today its recent business activity.

Year to date in 2023, EastGroup began construction of three development projects located in Atlanta, Orlando and Miami which will contain 810,000 square feet and have projected total costs of $111,700,000. Also, the Company transferred two development projects totaling 200,000 square feet with projected total costs of $25,600,000 to the operating portfolio (at the earlier of 90% occupancy or one year after completion). These projects, located in Ft. Myers and Houston, are currently 100% leased. As of March 1, 2023, EastGroup’s development and value-add program consisted of 21 projects (4,591,000 square feet) in 12 cities. The projects, which were collectively 37% leased as of March 1, 2023, have a projected total cost of $580,200,000.

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